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Middle East and Africa Commercial News Property News

According to international real estate consultant Cluttons, the global economic anxiety and growth slowdown across regional markets has played a significant role in the decreased demand for industrial real estate in Dubai.

The impact of the softening global economy continues to hamper the UAE's office market as redundancies in the oil and gas, finance and banking sectors have stifled demand for office space across the emirates.

According to Cluttons, office rents in Dubai's prime free zones held firm during the first quarter of 2016, as occupancy levels remained high in core areas such as Dubai International Financial Centre, Dubai Media City and Dubai Knowledge Village.

According to international real estate consultancy Cluttons, stability in office rents in Dubai's main markets persisted throughout Q1 2016 as a result of continued high demand from both international and domestic occupiers.

International real estate consultancy Cluttons is now reporting a welcomed the resumption in activity from multinationals in Bahrain, which now account for approximately 25% of office space deals in the Kingdom.